Authorities: letting us speak with your banks, funds and professionals
How third-party authorities and letters of authority let us deal with your banks, funds and professionals for you.
Authorities let us deal with your banks, funds and professionals directly, so you don't have to make the calls or chase statements. We fill them in for you, and you sign them all in one sitting by DocuSign.
Two kinds
- Third-party authorities are for the institutions that hold your money: super funds, pension and investment providers, and banks. Each institution has its own form.
- Letters of authority are for your professionals: your accountant, your solicitor, a previous planner and, for aged care or a village, the home or village.
We keep them separate because privacy law treats them differently.
What they allow
An authority asks the institution or professional to share information with us, such as statements, balances, contracts and fee schedules. It doesn't let us make changes to your accounts. It stays in place until you cancel it in writing. The forms show our licence details, because institutions need them.
Why sign them all now
We ask everyone to sign the letters of authority up front, even without a current accountant or solicitor. That way we're never waiting on paperwork when we need to act.
What happens next
We send each authority to the institution the next business day after you sign, and follow it up until they respond. Uploading your latest statements first helps us fill in each form correctly.
Signing for someone else? See "When someone holds power of attorney".
Questions? Text us on 0489 274 766 or email admin@primeyears.com.au.